StockNews.com Upgrades Ubiquiti (NYSE:UI) to Buy

StockNews.com upgraded shares of Ubiquiti (NYSE:UI - Free Report) from a hold rating to a buy rating in a report released on Sunday.

Several other brokerages also recently issued reports on UI. Barclays lifted their price target on shares of Ubiquiti from $104.00 to $236.00 and gave the company an "underweight" rating in a report on Monday, November 11th. BWS Financial boosted their price target on shares of Ubiquiti from $240.00 to $385.00 and gave the stock a "buy" rating in a research note on Monday, November 11th.

Ubiquiti Stock Performance

Ubiquiti stock traded down $7.98 on Friday, hitting $335.14. The company's stock had a trading volume of 83,674 shares, compared to its average volume of 83,312. Ubiquiti has a one year low of $104.24 and a one year high of $355.31. The firm has a market cap of $20.27 billion, a P/E ratio of 51.88 and a beta of 1.13. The company has a quick ratio of 1.59, a current ratio of 2.54 and a debt-to-equity ratio of 2.80. The company has a fifty day moving average price of $245.98 and a 200-day moving average price of $188.44.

Ubiquiti (NYSE:UI - Get Free Report) last issued its earnings results on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.17). Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. The business had revenue of $507.50 million for the quarter, compared to analyst estimates of $538.23 million. The company's quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Ubiquiti will post 7.09 earnings per share for the current year.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.40 annualized dividend and a yield of 0.72%. Ubiquiti's dividend payout ratio (DPR) is currently 37.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Ubiquiti by 24.1% during the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company's stock worth $11,332,000 after purchasing an additional 18,986 shares during the last quarter. Covestor Ltd grew its position in shares of Ubiquiti by 29.0% in the 1st quarter. Covestor Ltd now owns 516 shares of the company's stock valued at $60,000 after acquiring an additional 116 shares during the period. EntryPoint Capital LLC increased its stake in shares of Ubiquiti by 123.4% during the 1st quarter. EntryPoint Capital LLC now owns 735 shares of the company's stock worth $85,000 after purchasing an additional 406 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ubiquiti by 87.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,094 shares of the company's stock valued at $706,000 after purchasing an additional 2,838 shares during the last quarter. Finally, Motley Fool Asset Management LLC bought a new position in shares of Ubiquiti in the first quarter valued at about $436,000. 4.00% of the stock is owned by institutional investors and hedge funds.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.